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Ncontracts acquires QuestSoft to help FIs succeed in the evolving regulatory environment

By Pavithra R

January 07, 2021

  • Ncontracts
  • USA
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Ncontracts, helping financial institutions (FIs) discover the upside of risk with integrated risk management and compliance solutions has announced that it has acquired QuestSoft Corporation, a leading provider of lending compliance software for the mortgage, bank and credit union (CU) industries.

The acquisition will create a robust end-to-end risk and compliance suite, enabling FIs to grow and succeed in the evolving regulatory environment. The combination of Ncontracts with QuestSoft is expected to be transformative for both the customers and the industry. 

“Leonard and his team have built an outstanding company and culture with an incredible set of customers and partners. This is a tremendous combination for our customers. Together, Ncontracts and QuestSoft will help financial institutions and mortgage companies not only meet the increasing needs and complexities of today’s regulatory environment but prepare them for the future. The combination of our teams and solutions creates tremendous value to our clients and the financial services industry,” said Michael Berman, CEO of Ncontracts. 

Through the acquisition, Ncontracts will now offer a comprehensive set of capabilities to assess and monitor risk and compliance for financial services companies, which includes nks, CUs, mortgage companies, and FinTechs, to ensure that information needed for compliance and risk management is securely and seamlessly shared across the entire organization. Its integrated risk management solution automates risk management and compliance activities for financial services companies.

“We’re extremely excited to bring our company together with an industry leader like Ncontracts. Our software and products have helped thousands of financial institutions and mortgage companies deal with regulatory requirements from HMDA, CRA, and Fair Lending regulations to automated digital compliance and other needed regulatory requirements. Bringing our capabilities and insights together with the leadership and reach of a company like Ncontracts is great news for our 2700 customers around the country and the industry at large,” said Leonard Ryan, founder and President of QuestSoft Corporation.

“With the addition of the QuestSoft products and expertise to our existing lending compliance solutions, we now have the ability to deliver the most comprehensive set of integrated risk management offerings available in the marketplace. And with the backing of our financial partner, Gryphon Investors, we continue to build on our next phase of growth and look forward to integrating our products and companies together with a strong focus on delivering solutions for our combined customer base in the coming years,” added Michael Berman. 

Established in 2009, Ncontracts is the leading provider of solutions that help banks, credit unions and mortgage lenders assess, manage, and mitigate the complete lifecycle of risk. Over 3,700 FIs trust Ncontracts to help manage risk, compliance, and governance across their organizations.

Also read, U.S. Bank to acquire Debt Servicing and Securities Custody Services client portfolio of MUFG Union Bank

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